Articles for tag: Arcadium, buy, join, lithium, miners, Rio, Tinto, top

October 10, 2024

Ron Finklestien

mining

Rio Tinto’s Strategic Move to Acquire Arcadium Elevates its Lithium Standing

A Game-Changing Acquisition Rio Tinto, the second-largest miner globally, has announced its acquisition of United States-based lithium company Arcadium for $5.85 per share—a substantial 90% premium over Arcadium’s recent stock closing price of $3.08 on October 4. Rio Tinto’s New Lithium Frontier By purchasing Arcadium, Rio Tinto sets its sights on becoming one of the top lithium producers worldwide, trailing only behind Albemarle and SQM. The deal will grant Rio Tinto access to lithium mines in Argentina and Australia, coupled with processing facilities spanning the US, China, Japan, and the UK. Notably, its client roster includes industry heavyweights like Tesla,

May 30, 2024

Ron Finklestien

mining

British Columbia miners serve strike notice at Gibraltar

The Gibraltar copper-molybdenum mine is the second largest open-pit copper mine in Canada and the largest employer in the Cariboo region of British Columbia. “Unifor has negotiated in good faith to avoid work stoppage at Taseko’s only functioning copper mine,” Unifor’s Western regional director Gavin McGarrigle said. “We need Taseko to get serious about resolving basic issues if we’re to avoid job action.” Taseko has not responded to a request for comment. Taseko posted its highest ever revenue of $525 million for 2023 in March, thanks mainly to the contribution of the Gibraltar mine, in which it held a majority 87.5% interest.

April 25, 2024

Ron Finklestien

mining

Miners struggle to finance projects amid surging battery demand — IEA

In its recent Global EV Outlook 2024, IEA highlights the necessity of external sources to support large-scale capital expenditure in mining projects, however miners Albemarle, Core Lithium, Liontown Resources and Pilbara Minerals recently announced project spending reductions, lower dividends, and job cuts. Nickel and cobalt projects in Australia have also been delayed or halted, involving companies like BHP, First Quantum Minerals and Wyloo Metals. In the US, Piedmont Lithium Inc. is letting go of 25% of staff. “Over the 2024-2026 period, we could see progressive consolidation of critical mineralextraction and refining projects and businesses around lowest-cost producers,” said the Agency.

April 24, 2024

Ron Finklestien

mining

E-haul trucks could result in major savings for miners but adoption is slow – report

Yet, the document points out that miners worry about the size and cost of haul truck batteries, as well as about the fact that they will need multiple replacements within a 10-year window. “The large batteries needed for electric haul trucks have perhaps been the largest technological and financial bottlenecks inhibiting their adoption, but they are now sufficiently developed and competitively priced for wider use. These batteries regularly exceed 1 MWh, with the largest ones approaching 2 MWh,” the report reads. “IDTechEx has collated a database of all existing EV haul truck models, showing that current vehicle runtimes remain under

April 19, 2024

Ron Finklestien

mining

MSHA Takes Decisive Action to Safeguard Miners from Silica Dust Exposure

A Vital Move Towards Miner Safety When it comes to miner safety, the newest final rule issued by the Mine Safety and Health Administration (MSHA) is a long-overdue lifeline. This regulation demands immediate corrective actions if a miner’s exposure exceeds specified limits. It’s a crucial step forward, ensuring that mine operators are compelled to comply with strict safety measures. Addressing a Historical Neglect Acting Secretary Julie Su underscored the urgency, condemning the historical neglect that miners have endured. Despite the well-established hazards of silica dust, miners have been unfairly exposed for decades. The issuance of this rule is a significant

March 24, 2024

Ron Finklestien

mining

Rescue Operation Thwarts Kidnapping Plot Targeting Peruvian Miners

Joint Effort to Foil Criminals Unified Command in swift pursuit of kidnappers while military patrols vigilantly monitor the vicinity. Apprehension and Surrender Detainees offer up assorted ammunition and two balaclavas upon capture. Displayed before both the Hualanga police station and the National Prosecutor’s Office. Protecting Gold-Rich Territory Pataz province, an area abundant in gold, has been under a state of emergency since December 2023. A tragic incident unfolded when nine perished and 15 were wounded following an armed raid on the Poderosa mine facilities. Combating Threats to Stability Military and law enforcement personnel forge a united front to preserve law

February 2, 2024

Ron Finklestien

mining

The Conundrum of Junior Miners in a Booming Market

Ross Beaty: A Mining Visionary Speaks Ross Beaty, a prominent figure in the mining industry, shared his insights with The Northern Miner at AME Roundup 2024. Credit: Northern Miner In an unprecedented market, with gold and copper hovering around all-time highs, mining veteran Ross Beaty expressed astonishment at the absence of financial support for the junior mining sector. During an interview at AME Roundup in January, the chair of Equinox Gold and founder of Pan American Silver delved into the intricate dynamics that will untangle the current paradox, shedding light on cost pressures within the industry and explicating the prevailing

January 28, 2024

Ron Finklestien

mining

Chaos Strikes Poderosa Gold Mine as High-voltage Tower Destroyed by Illegal Miners

Repeated Attacks on Vital Energy Infrastructure The destructive force of illegal miners has struck again, leaving Poderosa Gold Mine in dire straits. This recent blow is just one in a series of aggressive attacks that have targeted the mine’s energy infrastructure 11 times in the past year. The unrelenting assault has been described by the mining company as ‘terrorist tactics’ that pose a significant threat to the security of the nation. This latest incident joins a long line of violent clashes. In December 2023, a gang of armed individuals stormed the Poderosa facilities, launching a vicious assault on the company’s

January 7, 2024

Ron Finklestien

mining

Brazil Enhances Security in Gold Mining Areas Brazilian government, miners join forces to improve security in gold mining areas

Setting the stage for a progressive partnership, the Brazilian government has inked an agreement with mining companies to enhance security in gold and precious metals mining regions. The collaboration aims to conduct thorough studies and analyses that will inform the development of robust strategies to counter organized crime activities affecting these areas. Leading the charge is the National Secretariat of Public Safety (SENASP), which will work alongside local communities and authorities to cultivate a comprehensive approach. The ultimate goal is to fortify defense mechanisms against criminal activities and foster seamless information exchange between mining firms and municipal, state, and federal

January 3, 2024

Ron Finklestien

mining

Chilean Government’s Lithium Partnership Chilean Government Forges New Path with Lithium Partnership

President Gabriel Boric’s bold plan mandates that any company seeking to mine lithium in Chile must form a partnership with the government, with the state possessing a controlling stake. The innovative strategy seeks to not only expand lithium extraction but also utilize cutting-edge eco-friendly technology and incorporate the perspectives of local Indigenous communities. Executives from China’s Tianqi, a significant shareholder in SQM, expressed their investment intentions during a meeting in December. Similarly, LG Energy and France’s Eramet indicated their interest in forming alliances, with the latter looking to explore a partnership in its 120,000-hectare lithium concession in the Atacama region.